Seoul court rejected warrants for former Terraform Labs employees and investors

A Seoul court denied prosecutors’ request for warrants to detain eight Terraform Labs employees, including co-founder Daniel Shin, early investors, and former engineers.

According to Yonhap News, citing the Seoul court, it’s difficult to believe they would flee or destroy evidence because Shin and the other seven suspects have been cooperating with the investigation. Furthermore, the suspects must be guaranteed their right to defend themselves against the allegations of capital market rules, which is the case’s main accusation, according to the court, according to Yonhap.